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Here we have some true or false questions.
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Woods notes that many view the late 1870s is depressionary because prices were falling, even though the available data show output rising.
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Is the statement true or false? this statement is true.
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Typically during a recession, actual economic output drops below its potential, which creates a negative output gap.
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In a boom, output rises above its potential, resulting in a positive gap.
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The forgotten depression occurred in 1920 to 1921.
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Is the statement true or false? the statement is true.
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During the short depression that lasted from 1920 to 1921, which is known as the forgotten depression, the u .s.
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Stock market fell by nearly 50%, and corporate profits declined by over 90%.
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However, the u .s...